Borrowers in this situation are often declined by lenders who don’t understand it. RESCOM works across a broad panel that includes lenders who actively support Contractors scenarios.
[Challenge 1 — e.g. Income evidence is harder to standardise and many lenders apply rigid definitions.]
[Challenge 2 — e.g. Serviceability buffers and add-back policies vary materially between lenders.]
[Challenge 3 — e.g. Mainstream lenders may auto-decline on scoring even when the file is genuinely strong.]
[Challenge 4 — e.g. Documentation timing matters — the same file can be approved or declined depending on when and where it’s lodged.]
We map how your income is treated by lenders.
Structure, story and evidence that answers lender concerns.
Choose a lender whose policy actually supports the scenario.
Submission order and document timing matter.
Handling conditionals and valuers without surprises.
This is a general guide only. Every lender applies its own definition, add-back policy and buffer. Replace the rows with the income treatment that actually matters for this borrower type.
| Income source | How lenders may treat it | What helps |
|---|---|---|
| Base salary | Usually accepted at 100% of gross income. | Recent payslips and employment contract. |
| Overtime | Lenders often accept only a portion, or require 12–24 months history. | Consistent history across two financial years. |
| Bonus / commission | Commonly averaged over 2 years, sometimes discounted further. | PAYG summaries and employer letter. |
| Self-employed income | Assessed from tax returns and Notice of Assessment; add-backs vary. | 2 years of returns, current ATO portal, accountant letter. |
| Foreign income | Only a small number of lenders accept; currency and country matter. | Documented history, AUD conversion, lender with international policy. |
| Rental income | Typically 70–80% of gross, plus negative gearing add-back rules. | Lease agreements, rental statements, tax returns. |
Photo ID and proof of residency
Income evidence — see matrix above
Liability summary — cards, loans, HECS
Living expenses by category
Property details or contract of sale
Accountant letter explaining income treatment
2 years of tax returns and ATO portal
Employment contract or engagement letter
Buffer evidence — savings, offset, equity
Rental appraisals for investment scenarios
Business overview or org chart
Client contracts showing ongoing revenue
Second-tier evidence for variable income
Letter from employer on future income
Super / investment statements for net-worth context
Different lenders compete for different borrower profiles. The right tier for you depends on how complex the situation is, how clean the evidence is, and how quickly you need an outcome.
Best pricing when the file is clean and the policy fits.
Designed for scenarios the majors won’t touch.
Bridge lending while a mainstream file is being prepared.
These are the scenarios most commonly mishandled when a file is lodged with the wrong lender, or with the wrong evidence order. Replace with the declines most relevant to this borrower type.
Restructure the file to a lender whose policy accepts the specific type of evidence you can actually provide — and prepare an accountant letter that frames it correctly.
Move the file to a lender with manual credit assessment, or restructure the income presentation so the automated rules don’t trigger a decline.
Different lenders apply different buffers, add-back rules and expense benchmarks. Match the file to the lender whose serviceability model actually fits your income structure.
A prior decline isn’t fatal. Many lenders only assess the current application. Choose one whose credit policy ignores earlier decline history, and disclose properly.
For some files, waiting 3–6 months for cleaner income evidence dramatically improves the outcome. For others, waiting costs money. We help you judge which is which.
The same numbers, explained differently, can produce a different outcome. We help you frame income, liabilities and ongoing commitments in the way each lender actually reads them.
Not every lender reads the same file the same way. We match the application to a lender whose policy, assessor culture and current appetite actually favour this scenario.
Replace with a real, de-identified example. Never fabricate an outcome.
[Income type, deposit or equity position, timing and any relevant context.]
[The specific reason mainstream approval was unlikely or had already failed.]
[Lender tier chosen, evidence structure, and why this approach was the right fit.]
[Approved, structure, timing. Do not promise similar outcomes for other clients.]
Map income, evidence and timing.
Prepare the file and confirm lender shortlist.
Lodgement, credit assessment and conditionals.
Valuer, LMI (if applicable) and formal approval.
Sign-off, settlement and post-settlement review.
Sometimes. It depends on how clean the income evidence is, how long the current structure has been in place, and which lender’s policy is the best fit. Where mainstream approval is unlikely, we may recommend a specialist tier — often with the aim of refinancing to mainstream later.
Most lenders want to see at least 12–24 months of history for variable or self-employed income. Some specialist lenders are more flexible. The exact requirement depends on the lender and the income type.
A prior decline isn’t fatal. Many lenders only assess the current application. We’ll review what happened, adjust the file, and choose a lender whose policy is genuinely suited — rather than resubmitting the same application to the same place.
Possibly, depending on the tier that supports your scenario. Specialist and private lenders usually price higher than mainstream. Where the goal is to refinance to mainstream within 12–24 months, the short-term rate difference is often outweighed by the outcome.
For most residential loans, the broker is paid by the lender after settlement. Some specialist or private scenarios attract a broker fee, which is disclosed to you in writing before you proceed.
Free, no-obligation assessment — Australia-wide by phone, video and online.
Family-owned mortgage brokerage. Sydney-based, servicing clients across Australia by phone, video and online.
1300 000 000
hello@rescomloans.com.au
General information only. The information on this page does not take into account your objectives, financial situation or needs. Lending criteria, rates, fees and eligibility vary between lenders and may change. Any examples are illustrative only. [INSERT RESCOM’S APPROVED CREDIT / LICENSING DISCLOSURE AND AFCA DETAILS WHERE REQUIRED.]